Bitcoin price reaches a new high after Trump wins the election. Coinbase Premium shifts from negative to positive, indicating strong buying pressure from American investors.

Although Trump is seen as the "crypto-friendly president," the price increase shouldn't be solely attributed to the "Trump effect." Some on-chain indicators show a positive trend.

UTXO Age Bands are an important indicator of Bitcoin price trends. Those holding for more than 6 months are redistributing Bitcoin to new investors.

History shows that inflows from new investors often push Bitcoin prices up. Currently, participation from new investors is rapidly increasing.

Almost all investors are in profit, which could trigger FOMO. If the Bitcoin price rises sharply, the percentage of profitable UTXOs could maintain 90-100%.

New investors need to be cautious of FOMO, avoiding over-investment and conducting thorough research before making decisions.

Recent data shows an interesting trend in the Bitcoin market: Although the NVT Golden Cross index is declining, the price of Bitcoin continues to rise and inflows into spot ETFs have reached new highs. This indicates that institutional investors are increasingly participating in the Bitcoin space through regulated ETFs, driving prices up even as on-chain activity remains relatively low.

Unlike previous cycles led by retail investors, this new phase reflects a shift towards growth driven by institutions. With ETFs providing a reliable and regulated channel, institutional investors seem to be establishing a solid foundation for Bitcoin, which may stabilize prices and reduce volatility.

The untapped potential as retail investor interest has not fully engaged. As personal demand increases, the price of Bitcoin may break out further, supported by a solid institutional foundation.

The cryptocurrency market is entering the final stage of the growth cycle, lasting about 1,050 days. The euphoric phase accounts for about one third of this time, especially the last three months when the RF Greed index reaches its peak. This is a critical time to maximize profits, but it is also necessary to prepare an exit strategy from the market.

Value investors need to know when to withdraw to avoid FOMO feelings. While it is currently a time to enjoy potential profits, it is also important to recognize that there will come a time to temporarily step away from the market.

The Bitcoin funding rate is negative, while open interest has reached a record high, indicating that bullish expectations have diminished after a strong rally following the presidential election announcement. High open interest can lead to significant volatility.

Short position bets are concentrated on mid-tier exchanges like OKX, Bybit, and Huobi, where a short squeeze may occur. Before the election results are announced, the funding rate is negative and there is a tendency for short selling. When Trump was confirmed, strong buying and a short squeeze drove the price up.

In the coming days, price growth may slow down, but buying inflows during price corrections could trigger another short squeeze. The liquidity of short positions is "fuel" for the price increase in a bull market.

Bitcoin Cash Flow Data:

- Green Column: Indicates cash flow into the exchange, showing that more Bitcoin is being sent than withdrawn, which could be a sign of increased selling pressure or preparation for trading.

- Red Column: Indicates cash flow out of the exchange, showing that more Bitcoin is being withdrawn than sent, often seen as a sign of accumulation or long-term holding.

Tether Cash Flow:

- Setting a new record with over 2 billion USDT into the exchange, the first time since December 2022.

- Increased purchasing power: A large amount of stablecoins entering the exchange provides strong purchasing power, which could boost demand for Bitcoin and other cryptocurrencies if this capital is used strategically.

Conclusion:

- If this cash flow is combined with Bitcoin accumulation, one could expect price increases, as seen in previous large Tether cases. This could be a signal of market confidence or act as a liquidity buffer absorbing selling pressure.

The inflow of funds into Bitcoin ETF funds yesterday reached over 1.3 billion USD, setting a new record for the day.

Although the trading volume of ETFs is still lower compared to centralized exchanges (CEX), ETFs play an important role in driving activity on CEX.

ETFs shape the overall market sentiment, which positively impacts investor behavior and indirectly increases trading volume across the entire cryptocurrency market.

Bitcoin is at a new high of $76,700 USD, but long-term holding groups are not selling. The ISSI index shows no selling pressure from major supply groups, indicating confidence in sustainable value or continued growth expectations. This provides a positive outlook for institutional investors and fund managers, helping them make data-driven decisions about stability and market sentiment. Analyzing the behavior of long-term holders helps to better understand supply dynamics and price volatility.

The Ethereum Funding rate approaches the 0.02 threshold, a sign of a strong price increase. Over the past 4 years, whenever it surpassed this threshold, the price of Ethereum surged significantly.

- July 2020: Rate > 0.02, Ethereum increased by over 100% in 50 days.
- November 2020: Rate maintained > 0.02, Ethereum increased by over 1000% in 350 days.
- August 2021: Rate > 0.02, Ethereum increased by nearly 90% in 100 days.
- October 2023: Rate > 0.02, Ethereum increased by 150% in 150 days.

Sustainable price increases are not only based on spot trading but also on long-term positions in the futures market. If the Funding rate remains above 0.02, this could be a good signal for Ethereum and altcoin investors. Keep an eye on new alerts to not miss any opportunities!

Price analysis shows that the bullish scenario for the 0.5 Range structure has performed well. We will wait for the blue line, the old Ath level, to act as support.

The Coinbase Premium Index has signaled a bullish trend upon breaking out, and the price has increased. Currently, we are at an important resistance zone. We will wait for this price, which has been resistance many times, to now become support.

The open interest index is moving along with the price, which is a positive signal. There are no concerning issues.

The funding rates index has begun to rise again, indicating that confidence in the bullish trend is returning, but it has not reached extreme levels. If there is excess, I will consider it.

There has been a significant sell-off on the Exchange Netflow Spot Exchanges index. Consider taking profits on long-term trades.

The price of Bitcoin reached a new all-time high after Trump's election, but the MVRV index remains low, just above 2. In periods of excitement, this index typically exceeds 3. To mark the final phase of a bull market, it needs to rise higher.

The number of new investors entering the market remains slow. In previous bull market phases, the proportion of new investors accounted for nearly 80% of the actual market capitalization. Currently, this figure is only at 30%, making strong growth expectations difficult. Attractive price movements and new developments, such as Microsoft's purchase of Bitcoin, are needed to attract more new investors.

Bitcoin price is at record highs, but miners aren’t moving their BTC to exchanges to sell. This suggests they still believe in the uptrend. Typically, when BTC tops, miners sell to cover costs. However, on Oct. 29, while there was a large flow of BTC to exchanges, most of it was not sold and there were no corresponding outflows.

Recently, we have witnessed a large amount of Bitcoin being withdrawn from the Binance exchange. This is the highest withdrawal level this year. Large withdrawals when Bitcoin peaks are a positive sign. This indicates that investors are increasingly confident in the crypto market and expect the upward trend to continue.

Introducing two proprietary metrics from 0nchained Analytics: Short-Term Holder Profit Index (STHPI) and Long-Term Holder Profit Index (LTHPI).

- STHPI measures the average unrealized profit of short-term holders, currently at 12%. History shows that when this group loses an average of 35%, the market typically peaks due to increased selling pressure.

- LTHPI tracks the unrealized profit of long-term holders, currently at 67%. Peaks in Bitcoin price typically occur when this group's unrealized profit reaches around 90%.

These metrics provide important insights into market sentiment and holder behavior, helping to predict market tops and shifts in momentum.

The Binance Dominance Index (BDI) currently stands at 24.8%, indicating Binance’s moderate influence in the crypto market. The BDI incorporates data such as Exchange Reserves, Spot Trading Volume, Mining Pool Market Share, and Whale Activity.

As one of the big names, Binance has a significant market share, but over-centralization is frowned upon in the crypto world where decentralization is valued.

The BDI level of nearly 25% reflects a good balance and this figure has been stable over the past year.

Centralized exchanges and Bitcoin spot ETFs, launching in 2024, are becoming important players in the Bitcoin ecosystem, driving wider adoption. Among them, Binance and BlackRock’s Bitcoin Spot ETF (ticker: IBIT) stand out as market-shaping players.

Binance leads in Bitcoin spot trading volume and holds the largest Bitcoin reserves with 623,000 BTC, accounting for 19.7% of the reserves on exchanges. Meanwhile, BlackRock’s IBIT ETF dominates the ETF space with 434,000 BTC, accounting for more than 43.4% of all Bitcoin in spot ETFs.

Both organizations are major influencers in Bitcoin trading and investing, shaping the future of the market.

The results of the recent U.S. presidential election have led to 9.3 billion USD in ERC-20 stablecoins being deposited into cryptocurrency exchanges. This is the second largest deposit since the inception of ERC-20.

Among them, Binance received about 4.3 billion USD and Coinbase about 3.4 billion USD, with the remainder going to smaller exchanges.

History shows that large deposits and upward trends from September 2020 to February 2021 were often accompanied by strong price increases. If this deposit triggers a similar trend, the cryptocurrency market may witness a new price surge.

Open interest on Binance reaches a new record high as Bitcoin shows signs of recovery. This increase indicates a significant influx of capital and liquidity into Binance's derivatives market, thanks to investor confidence bolstered by the results of the U.S. elections. Historically, rising open interest often signals confidence in sustainable upward trends or the potential for higher volatility.

The US political landscape has become clearer, and the Coinbase Premium index has surged.

After Donald Trump won the election, Bitcoin reached an all-time high. The buying activity of American investors has increased significantly, and the Coinbase Premium index quickly shifted into positive territory on an hourly basis.

Currently, the index has risen to 0.18. Compared to Binance, the price of 1 Bitcoin on Coinbase is about $142 more expensive.

This indicates strong buying pressure on Coinbase. American investors continue to be the main driving force of the market.

Open interest (OI) on Binance has just reached a new high of 8.3 billion USD, up 10.24% in the past 24 hours. The total OI across all exchanges is 23.3 billion USD, meaning Binance accounts for about 35% of the global futures positions.

Monitoring on-chain data from Binance helps capture market trends. This new OI peak may signal an upcoming increase in market volatility. A sudden increase in OI (over 3% in 24 hours) often suggests imminent liquidations in the futures market.

OI represents the total number of open long and short positions. When OI rises sharply, both long and short positions may face greater pressure, leading to liquidations. Monitoring Binance's OI data is crucial for understanding future market trends and preparing for significant fluctuations.

Binance is facing tight scrutiny from regulators, yet still leads the spot market for the BTC/USDT pair among centralized exchanges.

This indicates that despite regulatory pressure, many users still choose Binance as their primary place to buy Bitcoin.

Note that this data applies only to Binance.com and does not include Binance.US.